Broad definition of money includes currency, demand deposits, saving deposits and time deposits

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A	Can’t say
B	False
C	True

Explanation:

Detailed explanation-1: -Definition of. Broad money (M3) Broad money (M3) includes currency, deposits with an agreed maturity of up to two years, deposits redeemable at notice of up to three months and repurchase agreements, money market fund shares/units and debt securities up to two years.

Detailed explanation-2: -Narrow money is a category of money supply that is highly liquid. This category includes money, such as coins and banknotes, as well as overnight deposits. Broad money is a category of money supply that encompasses narrow money along with other less liquid supply forms.

Detailed explanation-3: -Money – The Definition 1 Money is a creature of the law. 2 Money is not tangible wealth in itself but a power to obtain wealth. 3 Money is a token, worthless of itself but symbolising wealth. 4 Money is an abstract social power based in law.

There is 1 question to complete.